Steel Dynamics, Inc. $STLD Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Steel Dynamics, Inc. by 3.4%, acquiring an additional 52,218 shares and owning approximately 1.08% of the company, valued at $200 million.
• Institutional investors now hold 82.41% of Steel Dynamics' stock, with Price T Rowe Associates and Victory Capital Management making significant increases in their positions in the first quarter.
• Steel Dynamics has announced a quarterly dividend of $0.50 per share, representing an annualized yield of 1.5%, with the ex-dividend date occurring on September 30th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,599,076 shares of the basic materials company's stock after purchasing an additional 52,218 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.08% of Steel Dynamics worth $200,012,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Steel Dynamics by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock valued at $883,854,000 after acquiring an additional 1,437,897 shares during the last quarter. Victory Capital Management Inc. raised its stake in Steel Dynamics by 433.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock valued at $227,211,000 after acquiring an additional 1,475,767 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Steel Dynamics by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company's stock valued at $175,821,000 after acquiring an additional 30,759 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Steel Dynamics by 531.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company's stock valued at $149,054,000 after acquiring an additional 1,002,813 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Steel Dynamics during the 1st quarter worth approximately $62,470,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley increased their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, Wells Fargo & Company increased their target price on Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of "Moderate Buy" and an average target price of $149.40.

Steel Dynamics Price Performance

NASDAQ STLD traded down $0.46 during mid-day trading on Wednesday, hitting $139.22. The stock had a trading volume of 360,845 shares, compared to its average volume of 1,573,041. The company has a 50 day simple moving average of $129.62 and a 200 day simple moving average of $128.05. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 1.07 and a beta of 1.40. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. Steel Dynamics's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.72 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics's dividend payout ratio is 29.15%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.30% of the company's stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.